Are numismatic writers ever appalled by the lack of price for their books in the primary and seconda

Longacre

As you know, other than collecting some of the finest southern gold rarities in existence, I also like to collect numismatic books. Although I like the fact that “big business” (e.g., Whitman) is involved in publishing numismatic books for the masses, I wonder how their presence affects the psyche of the writers themselves. For example, I can go on Amazon or even Ebay and pick up a copy of any of the books that QDB has written about Morgan dollars, double eagles, shield nickels, etc. Generally, I can easily buy them for around $16 or $17 dollars. If I am looking for an older numismatic book, I can go on any of the used book sellers on the internet, and with some exceptions, I can pick up some classic numismatic works for a song.

Does anyone know if numismatic writers are ever appalled by the relatively low prices for their books in the primary or secondary market? For example, I am guessing that it takes at least a year to publish a numismatic book that will have any credibility in the marketplace. I would like to see QDB make more profit on all of the books that he writes, but I wonder if the hobby could support higher priced books on various specific subjects. Although numismatic researchers and writers say that they at least want to break even and that their work is a labor of love, it must be frustrating when you compare the monetary returns with the time spent writing. What do you think?

Michigan

The reaction would vary from author to author, I don't think any of them depend on income from the
books to support their lifestyle to any great extent. Many numismatic books are in a "niche" area
of interest that will have a limited audience right from the start so most authors probably have limited
expectations as to how well the book will sell. I'm sure an author of a book on nickel three cent
die varieties would love to see it sell as well as the Redbook but that just isn't going to happen.

Barndog

How much profit do you think QDB would get if his latest book on currency cost $200 a copy? Affordable books are more likely to sell well enough to break even or make a small profit. If the first edition of the Red Book was priced at $50, I don't think there would have been a second edition.

There are some rather expensive numismatic books in the secondary market. Try to find "The Art and Craft of Coinmaking" by Denis Cooper. Great book, but good luck. One book dealer told me that if he had a copy, I could start laying $20 bills at his feet and keep doing it until the cows come home -- the book is too tough to find and costs a heck of a lot when one does find it. Many other numismatic books are very expensive in the secondary market. The Noyes two-volume set on large cents regularly tops $200 when Charles Davis sells it on ebay. Whether or not numismatic authors are appalled is likely related to their recognition of market conditions and the expectations of potential collectors/readers. If an author expects to make a huge profit solely related to a high price on a new book, disappointment awaits.

Michigan

A $200 book on currency is probably not going to sell well at all. I'm not sure what kind of profit margin
could be expected on a book in that range, it would depend on what the deal with the publishing house
is and related expenses for marketing the book etc.

I don't think you can ask just any price for a book and expect people to pay it, you have to know your
market so to speak and price it accordingly.


Some books that have gone out of print can be very expensive in the secondary market. The 4 volume
Haxby set on obsolete currency originally sold for around $200 and it now commands around $700-$800
on Ebay and elsewhere.

segoja

Books are money makers for the publishers, not the authors.

If the author publishes and distributes, it's a ton more work, less books sold and more money.

I see authoring to help build the authors credibility in the marketplace and help collectors out with their knowledge about a specific field.

Conder101

No because they know that for any book to sell high on the after market used is unusual. About the only books that do are reference books that had low production that are now considered to be standard references. And that is true for other subjects as well, not just numismatics.

DaveG

Considering the "teeny" press runs of most numismatic books (300-500 isn't unusual), I don't think any writer is under the illusion that they're going to make money from a book (and, for them, I think "break even" just refers to out-of-pocket expenses, not their labor).

Of course, QDB might just be the one exception to the rule!

lkenefic

I think it depends largely upon the market to which the authors write. I've never been able to find "Penny Whimsey" for less than around $75 and the Noyes set is double that...at least. Leo

IGWT

-- "I am guessing that it takes at least a year to publish a numismatic book that will have any credibility in the marketplace." --

If that's true, and given the number of titles that he has published, QDB must be about 120 years old.

Bear

Many leading authors such as QDB, write books to share their knowledge

and insight with the collecting public. It is never intended to be a source of income

for them although some classics will make money in the long term.

IGWT

-- "Many leading authors such as QDB, write books to share their knowledge and insight with the collecting public. It is never intended to be a source of income for them although some classics will make money in the long term." --

I don't doubt that some authors write for the purpose you suggest. Others write to promote their reputation and to enhance their credibility. It's a marketing method that provides indirect -- but very real -- economic benefit.

Edited to Add: I'm not saying that there's anything wrong with this motivation.

Shamika

All books, numismatic or otherwise, sell for a song on the after market.

Now that I think about, most everything sells for a fraction of the original retail price on the after market (cars, computers, CD's, etc).

howboutdemcoins

Shamika, you forgot to add "except most coins"

Shamika

<< <i>Shamika, you forgot to add "except most coins" >>


Got me!

Dismeguy

Knowing the weak after market pricing for numismatic books and the efforts necessary to sell enough books to breakeven, I decided to do a web-book instead. Yes, in the beginning there was much complaining about the lack of a hardbound book, but that complaining has died down. Today's serious collectors are using the internet as an important information medium and I would expect to see more "numismatic books" go the electronic route. Electronic books are cheaper and take less space in your study.

Luckily without the high publishing costs, I've been able to break even this year. Now the income has to cover web hosting costs, afterwards I have a few extra $$ to spend on advertising, something not considered to date beyond the message boards and search engines.

IGWT

Gerry's book is one of the best numismatic resources available; I bought a copy even though I don't even collect Liberty Seated Dimes. What I've learned about the series, however, gives me greater insight into coins of the same era that I do collect. He's right that the cost of traditional publishing is prohibitive; electronic publishing, e.g., Gerry's web-book and H. Spindels's SNV, points to the future.

No, this is not a paid endorsement. Yes, I'm trying to help Longacre achieve 2 100-count threads in one day.

Coinosaurus

<< <i>Yes, in the beginning there was much complaining about the lack of a hardbound book, but that complaining has died down. >>



Dismedude-

When are you going to come out with a hardbound edition? JOD (secret code name of seated dime dealer) says he doesn't have a computer and wants a book he can hold in his hands. You can recover all your printing expenses with one copy, right

Dismeguy

Ah yes....JOD....considering all the seated dimes that I bought from JOD, it would not have broken his bank to buy a token 1 year membership.

291fifth

<< <i>No because they know that for any book to sell high on the after market used is unusual. About the only books that do are reference books that had low production that are now considered to be standard references. And that is true for other subjects as well, not just numismatics. >>



Absolutely.

jayboxx

As someone else mentioned, most books can be had for a song on the secondary market, textbooks are a good example.

I would think that the profit from writing coins books is from the increased recognition it would bring to the writer, which may bring more coins to their attention, opportunities for consulting, positions at major players in the market, etc.

Also, the publishing world is beginning to change. Take a look at lulu.com which is specializing in producing these low run books-the books are not created until they are purchased, and can be purchased through Amazon and other online retailers.

Conder101

I have looked at Lulu.com and I think there is a very good chance that when the revised slabbook comes out it will probably be published through them or a similar publishing arrangement. I need to pick up a couple of their books and check them for quality, but it looks like I might be able to offer it in both spiral bound and possibly a hardbound version at reasonable prices through them. It's a little too soon to say for sure and I need to get further along in the revision and talk to them some more.